20-F - Diana Shipping Inc. | StockGist

AI Analysis

AI-generated analysis. Always verify with the original filing.

Diana Shipping Inc. (DSX) reported FY 2025 net income of $17.8M, down from $12.7M in FY 2024, with net income attributable to common stockholders at $12.1M ($0.11 basic/diluted EPS) versus $7.0M ($0.06 basic EPS) prior year. Time charter revenues declined 6% to $213.5M from $228.2M, driven by a smaller fleet (36 vessels vs. 38) after selling Alcmene and Selina, reducing operating days to 12,969 from 14,009. TCE rate improved slightly to $15,454 from $15,267. Operating income fell to $42.2M from $58.8M due to higher depreciation ($46.5M) and G&A ($34.1M). Vessel operating expenses decreased 3% to $80.2M. Gain on vessel sales was $3.7M vs. $5.8M. Net cash from operations dropped to $47.5M from $83.5M. Total assets stable at $1.17B, stockholders' equity $502.4M. Debt $529.2M, finance liabilities $114.1M. Fleet utilization remained strong at 99.7%. Equity investments include $118.2M in Genco (14.8% stake). Forward-looking, 81% of 2026 ownership days fixed above break-even, supporting liquidity amid dry bulk market volatility.

Key Takeaways

1Time charter revenues $213.5M, down 6% YoY from $228.2M

2Net income $17.8M, up 40% YoY from $12.7M

3Operating income $42.2M, down 28% YoY from $58.8M

4Fleet utilization 99.7%, same as prior year

5Total debt $529.2M, finance liabilities $114.1M

Key Financial Metrics

EPS

$0.11

$0.06 prior year

Revenue

$213.5M

-6%

Net Income

$17.8M

+40%

Operating Income

$42.2M

-28%